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  1. M

    Do we have to pay taxes on death benefits?

    Out life insurance carrier was going to drop our coverage because it had come to term. When we contacted our agent, we mentioned that my husband would not be able to get any more insurance due to having terminal cancer. Unbeknownst to us, we had a terminal illness clause in his policy, and were...
  2. M

    Paying taxes on death benefits

    Recently, our 20 year term life insurance was set to expire. Because my husband has stage 4 cancer, has had a heart attack and several strokes, it would be impossible to re-insure him. We did, however, without forethought, pay for the terminal illness policy, and were able to cash in the policy...
  3. M

    Universal Life Polucy can drop us?

    20 years ago, we purchased a Universal Life insurance policy thru Jackson National Insurance Co. We have paid our premiums faithfully, there has never been to problem. But now that the 20 years have arrived, the policy states they can drop us as policy holders. When we, AND our agent contacted...
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